A CNBC survey of 5,523 people living in the US revealed that 1 in 10 people currently invest in cryptocurrencies.
Although crypto investors are not yet in the majority, increasingly crypto (and especially this year) has become an investment instrument in the sights of many who wouldn’t have even imagined it before
The CNBC media did a survey with 5,523 in the month of August in the United States and determined that 11% of them were investing in cryptocurrencies, as well as indicating the reasons.
Digital currencies came in fourth in investment preferences after real estate, stocks, mutual funds and bonds.
In the past year
About 65% of those cryptocurrency investors switched to the asset class in the past year, according to the survey. In the same time period, the prices of some of the major cryptocurrencies have shown volatility and also reached their peak prices. Bitcoin, for example, rose to an all-time high of more than USD$64,000 in April, then plummeted to around USD$30,000 and now recovered again to USD$50,000. The price today, as of 8:10 am New York time, is USD $47,838 according to CryptoMarkets
Reasons to invest
CNBC also asked for reasons to invest, from highest to lowest, the highest percentages of responses were
- Ease of making my own trades (e.g., through an app): 43%.
- Exciting: 35%
- Potential for short-term high growth: 31%
- Feels like a game: 26%
- Social media personalities encourage investment: 23
- Friends and family encourage investment 20%
- Long-term stable growth potential:18% Monthly: 34% Long-term stable growth potential:18% Monthly: 34% Monthly: 34% Monthly: 34% Monthly: 34
In terms of frequency, the vast majority are not investing daily or glued to a computer. However, it is true that the vast majority do invest at least once a month. This is revealed by CNBC’s survey of investment frequency
- Monthly: 34% Monthly: 34% Weekly: 33% Weekly: 33% Weekly: 33% Weekly: 33% Weekly: 33
- Weekly: 33% Weekly: 33
- Every 3 months: 26% Daily: 24% Daily: 24
- Daily: 24% Daily: 24
- Every 6 months: 18% Every 6 months: 18
- Less often than every 6 months: 14% Other: 6% Other: 6% Other: 6% Other: 6% Other: 6% Other: 6% Other: 6% Other: 6% Other
- Other: 6% Other: 6% Other: 6% Other: 6% Other: 6% Other: 6% Other: 6% Other: 6% Other
- Never: 1%
(adding together a percentage greater than 100% means there was a choice of more than one answer per respondent).
Other results of the survey are as follows
“Those who invest in cryptocurrencies say they do so because of the long-term growth potential (60%), the potential for high growth in a short period (44%), the ease of making their own trades (33%), and the excitement of investing (26%)”.
“Less than half (44%) of the general public don’t know where they expect Bitcoin to be by the end of 2021 (21% say higher than where it is now, 14% say where it is now and 14% say lower than where it is now).”
“New investors are more optimistic about cryptocurrencies than those who started investing before 2019. A third (36%) of new investors believe Bitcoin’ s price will be higher than it is now, compared to 20% of other investors.”
The survey also covered the demographics of crypto investing, and found that men were twice as likely as women to invest in crypto assets across all racial and ethnic groups. Older investors were also more likely to rate crypto assets as high risk.
Percentage Holds Steady
The percentage of those interested in cryptocurrencies appears to have held steady in the United States. A March poll in which CNBC asked people about their investment from the stimulus checks given by the government for COVID-19. According to the results, about USD $40 billion of the total U.S. pandemic relief checks could have gone into the cryptocurrency market.
Translation and version by DiarioBitcoin
Image by Unsplash